From a comment over at Half-Sigma:
"...why is a Depression necessarily bad? If you're intelligent, you've already paid off your house and have enough money to live off for the next decade. It's not my problem if most people can't save a dime and live off credit.
I don't think it would be a bad thing to see useless bankers jumping from windows and pompous Lexus-renting suburbanites in soup lines. I think the US deserves a depression."
Really. Unless you own stock in Goldman, why should you give a shit if it collapsed. We're screwed when they manipulate the interest rate, blued when they inflate the money supply and tattood when they bail out the (supposedly) private institutions that fail, and if you don't like it - "Dude, don't you love your fellow countryman?" That's the real reason the GOP hates us Paultards; nobody likes a smart-ass, especially when he's right about every goddam detail.
The Fed was sold to us as a way to prevent bank panics; depositors not being able to get their savings out. What savings? We have net negative savings because we already earn less in interest than inflation and the entire system depends on the government loaning money to the banks at even lower rates. Why shouldn't we eliminate the middle man and just borrow directly from the government? Better yet, why shouldn't we all just have government jobs and pensions with free healthcare and broadband so we can telecommute, and then get bailed out if we still can't make ends meet after we get our stimulus rebate and mortgage moratorium?
What's really mystifying is that there enough Americans smart enough to fill out the loan forms.